On Dec 30, 3:21*pm, "William Wixon" wrote:
there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. *i'm not well informed about
this but it seems like a good idea to me. *"starve the cancer within us".

http://www.huffingtonpost.com/ariann...our-money-a-ne...

b.w.

The real reason there is no money to loan is the Government is loaning
banks enormous sums at 0.25% or less, so they can buy Government
securities paying 4% or more. This is what is keeping the GNP moving
up a little bit each month.

The small banks continue to go under because of their real estate
backed loans. Here in Central Oregon, most unbuilt subdivisions are
now owned by banks. Most unbuilt industrial land and even newly built
industrial buildings are either owned by local banks or will be soon
when the loans come due in a few months.

The real problem, now, for the FDIC is finding a bank that is willing
or able to take over operation of another bank. Most have already
absorbed several other banks and can't have branches duplicated on the
same block.

If you want to move your money, move it to a Credit Union.

Paul